Angel network grows wings

The going was slow at first last fall when former Atlanta investment banker Steve Morris launched an angel investor network in Sarasota.

He fielded only a call or two a month in the beginning, but the new year has brought more interest. Morris has received almost a call a day the past few weeks, he says, both from potential investors and companies that seek capital.

The organization, the nonprofit Sarasota Angel Capital Network, now has between 20 and 30 members, says Morris. Members must pay $1,500 to enter the network and pledge to give $50,000 a year toward deals at a minimum of $5,000 per deal. “The goal,” Morris tells Coffee Talk, “is to spread the risk.”